Amount and Terms of Letter of Credit Sample Clauses

Amount and Terms of Letter of Credit. (a) LETTER OF CREDIT COMMITMENTS, TERMS OF LETTERS OF CREDIT. (i) Subject to and upon the terms and conditions herein set forth and such other conditions as are applicable to its customers generally, at any time and from time to time on or after the Initial Borrowing Date and prior to the Business Day (or the 30th day in the case of Commercial Letters of Credit) preceding the Termination Date, BT agrees to issue, in its own name (in such capacity, "FACING AGENT"), but for the ratable benefit of all Lenders (including Facing Agent) one or more Letters of Credit, each having a Stated Amount in Dollars, for the account of Borrower in an aggregate undrawn amount at any one time outstanding that together with the aggregate Stated Amount of other Letters of Credit then outstanding, does not exceed $15,000,000; PROVIDED, HOWEVER, that Facing Agent shall not issue or extend the expiration of any Letter of Credit if, immediately after giving effect to such issuance or extension, (A) the aggregate LC Obligations at such time would exceed $15,000,000 or (B) the Available Revolving Commitment of any Lender would be less than zero. Each Lender severally, but not jointly, agrees to participate in each such Letter of Credit issued by Facing Agent to the extent of its Commitment Percentage and to make available to Facing Agent such Lender's Commitment Percentage of any payment made to the beneficiary of such Letter of Credit to the extent not reimbursed by Borrower; PROVIDED, HOWEVER, that no Lender shall be required to participate in any Letter of Credit to the extent that such participation therein would exceed such Lender's Available Revolving Commitment then in effect. No Lender's obligation to participate in any Letter of Credit or to make available to Facing Agent such Lender's Commitment Percentage of any Letter of Credit Payment made by Facing Agent shall be affected by any other Lender's failure to participate in the same or any other Letter of Credit or by any other Lender's failure to make available to Facing Agent such other Lender's Commitment Percentage of any Letter of Credit Payment. Notwithstanding the foregoing, in the event a Lender Default exists, Facing Agent shall not be required to issue any Letter of Credit unless Facing Agent has entered into arrangements satisfactory to it and Borrower to eliminate such Facing Agent's risk with respect to the participation in Letters of Credit of the Defaulting Lender or Lenders, including by cash collateralizing...

Amount and Terms of Letter of Credit. (a) The Bank agrees, on the terms and subject to the conditions hereinafter set forth and relying upon the representations and warranties set forth herein or incorporated herein by reference, to issue the Letter of Credit in an initial stated amount equal to $[Stated Amount] (the “Initial Stated Amount”), representing the maximum principal amount of the Commercial Paper Notes in the amount of $175,000,000 and interest thereon computed on the basis of an assumed interest rate of 10% per annum for a period of 120 days and a year of 365 days. The Letter of Credit shall be issued to the Issuing and Paying Agent on the Closing Date for the account of the City. (b) The Stated Expiration Date for the Letter of Credit is set forth in the Letter of Credit; provided that such date shall be subject to extension upon the request of the City and with the written consent of the Bank in its sole discretion. Any request made by the City shall be made by written notice to the Bank no sooner than one hundred eighty (180) days prior to the then existing Stated Expiration Date and the Bank shall consent to or deny the request for extension within forty-five (45) days following its receipt of the City’s request for extension. If for any reason the Bank fails to consent to or deny the City’s request for an extension or fails to respond to the City’s request for an extension, the request shall be deemed to be denied by the Bank.

Amount and Terms of Letter of Credit. The Bank agrees, on the terms and subject to the conditions hereinafter set forth, to issue (i) the Letter of Credit to the Trustee with a Principal Component equal to $4,500,000 initially and with an initial Interest Component of $81,250. The Letter of Credit shall expire on October 16, 1999, unless otherwise terminated or extended. Should the Letter of Credit be extended, the expiration date hereof would be at least two Business Days or five calendar days after an interest payment date on the Bonds.

Amount and Terms of Letter of Credit. At the request of Corporation, Lender agrees, on the terms and subject to the conditions set forth in this Agreement, including without limitation the conditions set forth in ARTICLE III hereof, to on or before the Date of Delivery cause the issuance of the Letter of Credit by Issuing Bank, in favor of Bank for the account of Corporation, to secure, and to provide a source of payment of, the Deposit. The Letter of Credit will be issued in an initial amount equal to the Maximum Credit. The Letter of Credit shall be issued in favor of Bank for the account of the Corporation substantially in the form of EXHIBIT B hereto.

Amount and Terms of Letter of Credit. The Issuing Bank agrees, in reliance on the agreements of the Lenders in Section 2.5 and on the terms and subject to the conditions hereinafter set forth, to issue the Letter of Credit to the Trustee (i) in an amount not to exceed $39,000,000 (the “Principal Component”), plus an amount equal to the sum of 45 days’ interest on the Bonds, computed at a rate of 12% per annum based on a year of 365 days, notwithstanding the actual rate borne from time to time by the Bonds (the “Interest Component”) and (ii) expiring on September 6, 2010, unless otherwise cancelled, terminated or extended.

Amount and Terms of Letter of Credit. (a) Letter of Credit Commitments, Terms of Letters of Credit. (b) Procedure for Issuance of Letters of Credit. (c) Draws upon Letters of Credit; Reimbursement Obligation. (d) Lenders’ Participation in Letters of Credit. (e) Fees for Letters of Credit. (f) LC Obligations Unconditional. (g) Indemnification. (h) Stated Amount.

Amount and Terms of Letter of Credit. Section 2.01 The Letter of Credit. (a) The LC Bank has agreed, upon the terms and conditions set forth herein, to issue and deliver the Letter of Credit in the Stated Amount to the Trustee as agent for the Holders under the Trust Agreement and under the Remarketing Agreement. (b) The Letter of Credit may be transferred to a successor or substitute Trustee in accordance with the provisions set forth in the Letter of Credit. (c) The Stated Amount shall be reduced and reinstated in accordance with the provisions of the Letter of Credit. (d) The Letter of Credit shall expire on April 6, 2006, unless sooner terminated in accordance with the terms and conditions contained in the Letter of Credit. The LC Bank shall not be required to enter into any extension or to otherwise amend, modify or supplement the Letter of Credit; provided, however, the LC Bank may, in its sole and absolute discretion, extend the Expiration Date upon the request of the Borrower made to the Bank on or before 90 days prior to

Amount and Terms of Letter of Credit. (a) Subject to the conditions hereinafter set forth, the Lender shall arrange for the issuance of the Letter of Credit by the Bank on the Effective Date for the account of the Company, in favor of the Trustee. The Letter of Credit shall have an initial expiry date of January 14, 2007 (the "Initial Expiry Date"), shall be automatically extended thereafter for successive terms of 365 days each, unless, at least one hundred twenty (120) days prior to the last day of the then current term (such last day, an "Interim Expiry Date"), the Bank shall have delivered to the Company and the Beneficiary a notice of its election not to extend the Interim Expiry Date then in effect, and shall have a final expiry date of January 14, 2022 (the "Final Expiry Date"). If the Initial Expiry Date, any Interim Expiry Date, or the Final Expiry Date falls on a day that is not a Banking Day, such day shall be extended automatically to the next succeeding Banking Day. (b) The Letter of Credit shall be in the form of Annex A attached ------- hereto and made a part hereof with only such insertions as to amounts, dates, notices, addresses and related matters as shall be consistent with this Reimbursement Agreement.

Amount and Terms of Letter of Credit. (a) The Bank agrees, on the terms and subject to the conditions hereinafter set forth and relying upon the representations and warranties set forth herein or incorporated into Section 4.9 hereof by reference, to issue the Letter of Credit in an initial stated amount equal to $107,638,889 (the “Initial Stated Amount”), representing the maximum principal amount of the 2015 GR-6 Notes in the amount of $100,000,000 and interest thereon computed on the basis of an assumed interest rate of ten percent (10%) per annum for a period of 275 days and a year of 360 days. The Letter of Credit shall be issued to the Issuing and Paying Agent for the account of the Authority, and shall be substantially in the form of Exhibit A hereto, with such changes to such form as the Authority and the Bank shall agree in writing are necessary or advisable. (b) The Stated Expiration Date for the Letter of Credit is set forth in the Letter of Credit; provided that such date shall be subject to extension upon the request of the Authority and with the written consent of the Bank in its sole discretion. Any request made by the Authority shall be made by written notice to the Bank no earlier than one hundred eighty (180) days and no later than sixty (60) days prior to the then existing Stated Expiration Date and the Bank shall consent to or deny the request for extension within thirty (30) days following its receipt of the Authority’s request for extension. If for any reason the Bank fails to consent to or deny the Authority’s request for an extension, the request shall be deemed to be denied by the Bank. (c) If the Stated Amount of the Letter of Credit is reduced or reinstated after any such reduction as provided in the Letter of Credit, the Bank may at its option, deliver to the Issuing and Paying Agent a substitute Letter of Credit duly issued by the Bank in an initial stated amount equal to the then current Stated Amount of the Letter of Credit as so reduced or reinstated, as the case may be, as provided in the Letter of Credit (but otherwise having terms identical to the Letter of Credit) upon surrender by the Issuing and Paying Agent to the Bank of the Letter of Credit. Any substitute letter of credit issued pursuant to this Section 2.1(c) shall be dated the date of the Letter of Credit for which it is substituted.

Amount and Terms of Letter of Credit. At the request of Corporation, each Lender agrees, on the terms and subject to the conditions set forth in this Agreement, including without limitation the conditions set forth in Article 3 hereof, to on or before the applicable Date of Delivery cause the issuance of a Letter of Credit by a Issuing Bank, in favor of MNB, for the account of Corporation, to secure, and to provide a source of payment of the obligations of the Corporation under the MNB Merchant Agreement. The Letters of Credit will be issued in an initial aggregate amount equal to the Maximum Credit and will have a duration, or be renewed, for a period of two (2) years from the Date of Delivery. The Letters of Credit shall be issued in favor of MNB for the account of the Corporation substantially in the form of Exhibit C and Exhibit D attached hereto.